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Amazon’s Net Income Jumped 68 Percent in First Quarter

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Amazon.com announced its first quarter numbers this afternoon, confirming that the online retailer is, in fact, making a killing.

Here’s the summary, from Publisher’s Weekly: “[T]otal revenue for the company jumped 46 percent in the first quarter to $7.13 billion, and net income rose 68 percent to $299 million. The revenue gain was driven by the electronics and general merchandise segment, home to the Kindle, where sales jumped 72 percent to $3.5 billion.

Sales of books and e-books rose by 26 percent, and the Kindle continues to be the biggest selling item.

Good for Amazon. Tomorrow, we’ll check back with a report on how Amazon is using its profits to help underwrite various small publishers and organizations.

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